Wct tds
This query is : Resolved
31 December 2016
Hi , Please help me to calculate net payable amount under work contracts.
Contractor bill amount:-
Value of work (including labour and material charge)= 300000
KVAT charged = (300000*75%)*14.5% = 32625
Service Tax charged= (300000*40%)*15% = 18000
Total Billed amount = 300000+32625+18000= 350625
We are the client to pay bill amount, Please tell how to calculate net amount after deducting TDS-1%, WCT-8% and Retention- 5%
Contractor bill amount:-
Value of work (including labour and material charge)= 300000
KVAT charged = (300000*75%)*14.5% = 32625
Service Tax charged= (300000*40%)*15% = 18000
Total Billed amount = 300000+32625+18000= 350625
We are the client to pay bill amount, Please tell how to calculate net amount after deducting TDS-1%, WCT-8% and Retention- 5%
31 December 2016
The calculation will be as under:-
Value of work 3,00,000
KVAT Charged 32625
Service tax charged 18,000
TDS 3000
Retention 24000
WCT 8% of 32625=2610
Amount payable 321015(350625-3000-24000-2610)
Value of work 3,00,000
KVAT Charged 32625
Service tax charged 18,000
TDS 3000
Retention 24000
WCT 8% of 32625=2610
Amount payable 321015(350625-3000-24000-2610)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Dep. as per companies act
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- SALARY CAN BE CAPITALIZE
- TDS on purchase of under construction property from a reseller
- UDIN ISSUE
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
